Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,791 shares of the financial services provider’s stock after acquiring an additional 251 shares during the period. Integrated Wealth Concepts LLC’s holdings in Ameriprise Financial were worth $1,486,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AMP. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Ameriprise Financial by 3.4% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 19 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in Ameriprise Financial by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after purchasing an additional 20 shares during the last quarter. Dakota Wealth Management raised its stake in Ameriprise Financial by 2.7% in the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 21 shares during the last quarter. Finally, Abel Hall LLC raised its stake in Ameriprise Financial by 4.2% in the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 21 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AMP. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley increased their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Raymond James raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a research note on Monday, April 7th. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $517.44.

Ameriprise Financial Stock Up 0.5 %

Shares of AMP opened at $468.16 on Tuesday. The company has a market capitalization of $44.86 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The stock has a fifty day simple moving average of $485.25 and a two-hundred day simple moving average of $522.27.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $8.39 EPS. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has approved a share repurchase plan on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, May 5th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.37%. Ameriprise Financial’s dividend payout ratio is currently 21.75%.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.